Andrade Gutierrez to select AI startups in new round of engineering 4.0 program

Brazilian construction giant Andrade Gutierrez is seeking national and international startups focused on AI as part of the sixth cycle of its open innovation program Vetor AG, aimed at advancing engineering 4.0.

“The use of artificial intelligence in Brazil is gaining more and more prominence in several sectors, and therefore engineering and construction could not be left out,” the company said in a statement.

The cycle is focused on three AI applications: in the construction segment (AI at the construction site), engineering (the application of technologies to improve project efficiency, precision and agility) and supplies (stock and material management).

Interested companies can sign up through  October 10 on Vetor AG’s website. After that, pre-selected companies will participate in a Pitch Day, when each will present their solution for Andrade Gutierrez professionals to evaluate. In the last stage, up to eight companies will test their products with Vetor AG's projects.

Vetor AG has connected with more than 1,500 startups since its inception in 2018, and 30 of them have had their pilot projects used in Andrade Gutierrez works.

***

Brazilian IT multinational Stefanini bought Solve.it, an Italian company that provides consultancy, application development and IT management services. Values were not disclosed.

This is Stefanini's first acquisition in Italy. Negotiations began in April. The goal is to accelerate Stefanini's growth in Italy and Europe, the company said in a statement.

Solve.it specializes in SAP, ServiceNow, Cornerstone, IBM Maximo, Microsoft and Oracle systems. Following the deal's completion, Stefanini Italia's headcount should surpass 300 people.

Present in 41 countries and with more than 32,000 employees, Stefanini is deemed the fifth most internationalized Brazilian company – the first in the technology sector, according to the Dom Cabral think-tank.

***

Argentina’s Agrotoken is accelerating its international expansion, having selected São Paulo as headquarters for its operations and springboard for global moves.

Founded in 2021, Agrotoken provides tokens (virtual assets) for the purchase of machinery, equipment, inputs and agricultural seeds, in partnership with brands such as Visa.

“São Paulo clearly offers us a strategic position for the company’s growth, without neglecting our Argentine roots. We maintain a permanent dialogue with the agro-industrial sector and this communication allows us to adapt our tokenization infrastructure in the region, reinforce our business network and, in addition, be able to provide technological solutions for large industries,” CEO Eduardo Astrada said in a statement.

"We understand that Brazil is currently one of the largest producers and exporters of food, thanks to the expansion of its planted territories and good climatic conditions. Furthermore, it is innovative in the use of tokenization, at the forefront of blockchain adoption and is one of the countries with the most banked population in the world."

***

Another Argentine company, financial software provider N5 closed a series A round to support its product development and business expansion, with plans to reach 25 countries, up from the 15 it currently operates in.

The fundraising amount was not made public, but 2017-founded N5 said the round generated interest "eight times greater" than expected. The company also announced the opening of 800 vacancies globally.

Investors that participated in the funding were: Illuminate Financial, Exor Ventures, Madrone Capital Partners, LTS Investments, which is the investment holding company of the Lemann, Telles and Sicupira families; Arpex Capital, and Overboost, an accelerator and specialist in the development of digital projects.

N5's client portfolio of platform and services includes Mastercard, Santander, Credicorp Bank, Zurich, Sudameris, Banco Atlas, N26 and BCP.

***

Chile opened registration for local startups willing to represent the country at the World Summit Awards (WSA), the world's largest startup event, which will take place in the country in April 2024.

The selection process is divided into eight categories: government and citizens, health and well-being, education, environment and green energy, culture, smart cities, business and commerce, and inclusion and empowerment.

Interested parties can register through September 29 via wsachile.com. The winners will be announced in October.